Brookfield Renewable Partners LP (NYSE:BEP) has recently completed financing for two wind projects in Ireland with a combined capacity of 46.7 MW, Mitsubishi UFJ Financial Group (MUFG) said.
The Slievecallan and Ballyhoura projects secured total financing of EUR 88 million (USD 103.4m), with MUFG as lead arranger, hedge provider and security and facility agent. Sumitomo Mitsui Banking Corporation (SMBC) and Export Development Canada provided senior financing.
The 27.5-MW Slievecallan East wind farm will use 11 pieces of 2.5-MW turbines by Germany’s Nordex SE (ETR:NDX1), while the 19.2-MW Ballyhoura project will be equipped by Siemens with six 3.2-MW machines. Both are expected to be up and ready to run in the first quarter of 2018.
The wind power plants will be producing as much power as 23,000 households consume annually. They are eligible to get the Renewable Energy Feed-in Tariff 2 (REFIT 2), with guaranteed index-linked tariffs for up to 15 years. Currently the rate is around EUR 80 per MWh.